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v3.25.2

Revenues (Tables) | 6 Months Ended
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Jun. 30, 2025
Revenue from Contract with Customer [Abstract] |
Schedule of Outstanding Contract Asset and (Liability) Accounts | The outstanding contract asset and liability accounts were as follows:
| 2025 |  | 2024
| (In thousands)
Contract assets—January 1 | $ | 136,432 |  |  | $ | 140,826 |
Contract assets – June 30 | 160,443 |  |  | 149,674 |
Change in contract assets – increase (decrease) | 24,011 |  |  | 8,848 |
Contract liabilities – January 1 | 400,689 |  |  | 432,830 |
Contract liabilities – June 30 | 420,585 |  |  | 425,617 |
Change in contract liabilities – (increase) decrease | (19,896) |  |  | 7,213 |
Net change | $ | 4,115 |  |  | $ | 16,061 |
Schedule of Revenue From External Customers by Geographic Areas | Information about the Company’s operations in different geographic areas was as follows for the three and six months ended June 30:
| Three months ended June 30, 2025 |  | Six months ended June 30, 2025
| EIG |  | EMG |  | Total |  | EIG |  | EMG |  | Total
| (In thousands)
United States | $ | 576,268 |  |  | $ | 358,738 |  |  | $ | 935,006 |  |  | $ | 1,156,393 |  |  | $ | 706,143 |  |  | $ | 1,862,536 |
International(1): |  |  |  |  |  |  |  |  |  |  |
United Kingdom | 24,739 |  |  | 37,603 |  |  | 62,342 |  |  | 55,556 |  |  | 75,409 |  |  | 130,965 |
European Union countries | 145,453 |  |  | 109,137 |  |  | 254,590 |  |  | 277,919 |  |  | 213,322 |  |  | 491,241 |
Asia | 289,965 |  |  | 62,281 |  |  | 352,246 |  |  | 564,830 |  |  | 117,459 |  |  | 682,289 |
Other foreign countries | 123,146 |  |  | 50,726 |  |  | 173,872 |  |  | 248,546 |  |  | 94,450 |  |  | 342,996 |
Total international | 583,303 |  |  | 259,747 |  |  | 843,050 |  |  | 1,146,851 |  |  | 500,640 |  |  | 1,647,491 |
Consolidated net sales | $ | 1,159,571 |  |  | $ | 618,485 |  |  | $ | 1,778,056 |  |  | $ | 2,303,244 |  |  | $ | 1,206,783 |  |  | $ | 3,510,027 |
________________ (1) Includes U.S. export sales of $472.9 million and $942.9 million for the three and six months ended June 30, 2025, respectively.
| Three months ended June 30, 2024 |  | Six months ended June 30, 2024
| EIG |  | EMG |  | Total |  | EIG |  | EMG |  | Total
| (In thousands)
United States | $ | 602,677 |  |  | $ | 342,201 |  |  | $ | 944,878 |  |  | $ | 1,171,574 |  |  | $ | 686,061 |  |  | $ | 1,857,635 |
International(1): |  |  |  |  |  |  |  |  |  |  |
United Kingdom | 27,759 |  |  | 35,755 |  |  | 63,514 |  |  | 54,466 |  |  | 63,947 |  |  | 118,413 |
European Union countries | 128,428 |  |  | 106,990 |  |  | 235,418 |  |  | 270,670 |  |  | 221,976 |  |  | 492,646 |
Asia | 281,990 |  |  | 56,310 |  |  | 338,300 |  |  | 580,035 |  |  | 106,509 |  |  | 686,544 |
Other foreign countries | 112,759 |  |  | 39,965 |  |  | 152,724 |  |  | 233,647 |  |  | 82,129 |  |  | 315,776 |
Total international | 550,936 |  |  | 239,020 |  |  | 789,956 |  |  | 1,138,818 |  |  | 474,561 |  |  | 1,613,379 |
Consolidated net sales | $ | 1,153,613 |  |  | $ | 581,221 |  |  | $ | 1,734,834 |  |  | $ | 2,310,392 |  |  | $ | 1,160,622 |  |  | $ | 3,471,014 |
______________ (1) Includes U.S. export sales of $435.6 million and $909.3 million for the three and six months ended June 30, 2024, respectively.
Schedule of Revenue From External Customers by Products and Services | The Company’s major products and services in the reportable segments were as follows:
| Three months ended June 30, 2025 |  | Six months ended June 30, 2025
| EIG |  | EMG |  | Total |  | EIG |  | EMG |  | Total
| (In thousands)
Process and analytical instrumentation | $ | 802,866 |  |  | $ | — |  |  | $ | 802,866 |  |  | $ | 1,579,737 |  |  | $ | — |  |  | $ | 1,579,737 |
Aerospace and power | 356,705 |  |  | 180,723 |  |  | 537,428 |  |  | 723,507 |  |  | 352,631 |  |  | 1,076,138 |
Automation and engineered solutions | — |  |  | 437,762 |  |  | 437,762 |  |  | — |  |  | 854,152 |  |  | 854,152 |
Consolidated net sales | $ | 1,159,571 |  |  | $ | 618,485 |  |  | $ | 1,778,056 |  |  | $ | 2,303,244 |  |  | $ | 1,206,783 |  |  | $ | 3,510,027 |
| Three months ended June 30, 2024 |  | Six months ended June 30, 2024
| EIG |  | EMG |  | Total |  | EIG |  | EMG |  | Total
| (In thousands)
Process and analytical instrumentation | $ | 802,724 |  |  | $ | — |  |  | $ | 802,724 |  |  | $ | 1,594,262 |  |  | $ | — |  |  | $ | 1,594,262 |
Aerospace and power | 350,889 |  |  | 154,463 |  |  | 505,352 |  |  | 716,130 |  |  | 306,915 |  |  | 1,023,045 |
Automation and engineered solutions | — |  |  | 426,758 |  |  | 426,758 |  |  | — |  |  | 853,707 |  |  | 853,707 |
Consolidated net sales | $ | 1,153,613 |  |  | $ | 581,221 |  |  | $ | 1,734,834 |  |  | $ | 2,310,392 |  |  | $ | 1,160,622 |  |  | $ | 3,471,014 |
Schedule of Disaggregation of Revenue |
| Three months ended June 30, 2025 |  | Six months ended June 30, 2025
| EIG |  | EMG |  | Total |  | EIG |  | EMG |  | Total
| (In thousands)
Products transferred at a point in time | $ | 919,601 |  |  | $ | 564,030 |  |  | $ | 1,483,631 |  |  | $ | 1,826,488 |  |  | $ | 1,097,438 |  |  | $ | 2,923,926 |
Products and services transferred over time | 239,970 |  |  | 54,455 |  |  | 294,425 |  |  | 476,756 |  |  | 109,345 |  |  | 586,101 |
Consolidated net sales | $ | 1,159,571 |  |  | $ | 618,485 |  |  | $ | 1,778,056 |  |  | $ | 2,303,244 |  |  | $ | 1,206,783 |  |  | $ | 3,510,027 |
| Three months ended June 30, 2024 |  | Six months ended June 30, 2024
| EIG |  | EMG |  | Total |  | EIG |  | EMG |  | Total
| (In thousands)
Products transferred at a point in time | $ | 925,932 |  |  | $ | 493,999 |  |  | $ | 1,419,931 |  |  | $ | 1,871,930 |  |  | $ | 997,584 |  |  | $ | 2,869,514 |
Products and services transferred over time | 227,681 |  |  | 87,222 |  |  | 314,903 |  |  | 438,462 |  |  | 163,038 |  |  | 601,500 |
Consolidated net sales | $ | 1,153,613 |  |  | $ | 581,221 |  |  | $ | 1,734,834 |  |  | $ | 2,310,392 |  |  | $ | 1,160,622 |  |  | $ | 3,471,014 |
Schedule of Product Warranty Liability | Changes in the accrued product warranty obligation were as follows:
| Six Months Ended June 30,
| 2025 |  | 2024
| (In thousands)
Balance at the beginning of the period | $ | 38,555 |  |  | $ | 37,087 |
Accruals for warranties issued during the period | 9,970 |  |  | 10,648 |
Settlements made during the period | (9,418) |  |  | (11,073) |
Warranty accruals related to acquired businesses and other during the period | 2,123 |  |  | (30) |
Balance at the end of the period | $ | 41,230 |  |  | $ | 36,632 |

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